Aiming at Wealthy Renters, Developers Build More Luxury Apartments Than They Have in Decades


New rental completion hits three-decade high, as for-sale home prices continue to climb

The Wall Street Journal (January 16, 2020) — Builders are on track to finish more new apartments in 2020 than in any year since the 1980s, a new study shows, with developers across the U.S. chasing after the more affluent tenants.

An additional 371,000 new rental units are expected to hit the U.S. market this year, which is a 50% increase over the number of new units completed in 2019, according to an analysis from real-estate analytics firm RealPage.

Read more at: The Wall Street Journal